1. A tail of three companies




  • Pensonic (Malaysia)



2. MNE-led industrialzation made possible with fragmentation



2.1 Decreasing transport, communication costs and unbundling of economic activities



Source: Baldwin (2007). Images/icons are from wikimedia commons. https://www.rieti.go.jp/en/rieti_report/090.html



2.2 Fragmention and MNE-led industrialization



Source: Kimura and Obashi (2011) https://www.adb.org/sites/default/files/publication/156175/adbi-wp320.pdf

3. What MNE can and cannot do?

  • Providing large scale empoloyment -> push up the bottom

  • Industrialization? but that is not a mission of private companies